Marketing for Asset Management: How to Build Programs that Grow AUM
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While prospects and clients become more tech savvy, you are still tasked with the same objective: build trust, educate prospects on macro-economic events that will impact investments and grow AUM. Listen to Mike Madden, Senior Demand Programs Manager at Marketo, to learn how to nurture prospects by investor persona, drive personalized engagement at scale, and build long-lasting relationships through digital channels.
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Marketing for Asset Management: How to Build Programs that Grow AUM
- 1. Marketing for Asset Management How to Nurture Prospects to Grow AUM Mike Madden Sr. Demand Generation Manager Marketo
- 2. • This webinar is being recorded! Slides and recording will be sent to you after the webinar concludes. • Have a question? Chat in the bottom left and I’ll get to your questions after the webinar. • Posting to social? Use our hashtag - #mktgnation • There is a brief survey after this webinar. Housekeeping
- 3. Page 3Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 Meeting Agenda 1. 2. What is Marketing Automation? 3. Email Tactics 4. 5. Segmentation Why Marketing Automation Lead Scoring Nurture6.
- 4. What is Marketing Automation?
- 5. Central Database Segment and target the right message to each investor or lead Engagement Marketing Engine Listen and respond to investors in real-time, providing personal and relevant communication Analytics Engine Understand what worked, what didn’t, and where you can improve WHAT IS MARKETING AUTOMATION?
- 7. How do you be relevant to each prospect? How do you get prospects to choose you and stay with you? How do you execute and measure this at scale? Your Challenge
- 8. Page 8Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 The Right Message Has Two Components Timeliness Relevance
- 9. A Transformation in Client Engagement Mass Marketing Focus on the message Engagement Marketing Focus on long-term relationships
- 10. Transform Your Client Engagement Organization Industry Portfolio Size Region Life Time Value Client Behavior Investment Strategy Target Account Segment +5 +10 +20 Nurture and ScorePersonalize Web Personalization Email Personalization Mobile Personalization Ad Personalization
- 11. • Automatically segment your prospects based on demographics and behaviors • Engage your prospects throughout all market conditions with personalized and automated communications across all channels throughout their lifecycle • Create a single view of your clients and prospects • Prioritize sales/wholesaler follow-up through lead scoring • Measure and track marketing campaign effectiveness and prove ROI • Get the right message to the right investor at the right time How Can Marketing Automation Help?
- 12. Segmentation
- 13. Why Segmentation is Important • 39% of email revenue is generated through targeted emails sent to specific segments1 • Segmented email campaigns produce 30% more opens than undifferentiated messages2 • 77% of email ROI comes from segmented, targeted and triggered campaigns1 • 84% of marketers who use segmentation rate their email ROI as good or excellent3 1DMA 2014 2Monetate 2012 3Econsultancy 2012 http://www.towerdata.com/blog/the-roi-of-email-intelligence Right message to the right client
- 14. How to Segment? Behavioral vs. Demographic
- 15. Demographic Segmentation • Retail Investors • Age • Net worth • Investable assets • Location • Gender • Investment philosophy • Institutional Investors • Industry • Company size • Location • AUM • Investment style
- 16. Behavioral Segmentation • Retail Investors • Engagement • Activity • Non-activity • Institutional Investors • Buying Stage • Prospect score • Product Interests
- 17. Segment Your Prospect Database Organization Industry Portfolio Size Region Assets Investment Behavior Investor Persona Investment Strategy Target Account
- 18. Further Segment by Investor Personas Investor Persona Tactical Passive Retirement Growth and Income New Markets
- 19. Updates in CRM – Reflected in Segmentations Institutional / Retail Investable Assets Asset Class ABC Advisors ABC Advisors Jack Bauer ABC Advisors Equities $1,000,000,000
- 20. Lead Scoring
- 21. Page 21Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 Use Lead Scoring “Lead scoring is the shared sales and marketing methodology for ranking leads in order to determine sales-readiness” 1. Investor Fit 2. Investor Interest 3. Investor Behavior 4. Investor Stage and Timing
- 22. Reactive Proactive and real-time 100 Immediate Focus 70 - 100 Proactively Nurture 0 - 70 Accelerate
- 23. • Score based on: • Demographic (fit) • Behavior (activity) • Decay (inactivity) • Asset Range • Investor Persona Score Your Prospects Latent Behaviors (Engagement) Active Behaviors (Buying Intent) • Early Stage Content: +3 • Fees Pages: +30 • Attended Webinar: +5 • Investment Methodology: +20 • Visit any Webpage: +1 • Mid-Stage Content: +8 • Visit Careers Pages: -10 • Late-Stage Content: +12 • Decay Inactivity: -1, -5, -10 • "Contact Me": +50
- 24. Lead Score Formula LEAD SCORE = (Pos Demo Score2 ) - (Neg Demo Score2) + Behavior - Decay Measure of engagement with Marketo content Demographic scores reflect investor fit
- 25. Before scoring: Prioritize Your Prospects for Sales After scoring:
- 26. Email Tactics
- 27. Page 27Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 H1 – Bold, Legible and Decisive H2 – Additional Details CTA
- 28. Page 28Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 Desktop MobileTablet
- 29. Page 29Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 Alt Tags The following elements have alt tags: • Logo (top left) • Social buttons (top right) • Banner Example Code: <img src="http://pages2.marketo.com/rs/561-HYG- 937/images/11319-YourMarketingAutomationChecklist- Email_564x355.jpg" alt="Your Marketing Automation Checklist" width="564px" height="355" border="0" />
- 30. Page 30Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 What’s Better? HTML Buttons or Images Buttons? Control: Image CTA Test: HTML Button
- 31. Page 31Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 The Inbox Looks a Little Different… Control: Test:
- 32. Page 32Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 The Results: 5% Higher Open Rate 15% Higher click/open rate 20% Higher CTR
- 33. Page 33Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 Resources for HTML Buttons Here are a few simple, free websites for building HTML buttons: • bestcssbuttongenerator.com • dabuttonfactory.com • css3buttongenerator.com
- 34. Page 34Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 The Power of Personalization
- 35. Page 35Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 Leverage Data
- 36. 0 50 100 150 200 250 300 350 400 100 1000 10000 100000 EngagementScore Email Send Size Source: 100s of Marketo campaigns
- 37. Page 37Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 Behavioral Triggers
- 38. Page 38Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 Behavioral Trigger Example
- 39. Page 39Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 Behavior Trigger Marketo Example
- 40. Nurture
- 41. Page 41Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 ABCDE of Building Your Own Nurturing 1. Audience – Target market, sub segment, behavior 2. Build a Team – Who is accountable? 3. Channels – Multi-channel experience 4. Define the Experience – Story arcs 5. Evaluate – Criteria for implementing nurtures
- 42. A - Audience
- 43. B – Build a Team
- 44. C - Channels
- 45. Page 45Marketo Proprietary and Confidential | © Marketo, Inc. 3/30/2017 D – Define the Experience
- 46. What does success look like at different time points? E - Evaluate Nurture Program One Set –Up Complete Jan Feb Apr May Jun Engagement Score = 70 4x the # of fast leads (<1 month) compared to pre-nurture 2x the # of opportunities With Optimizations, Engagement Score = 80 May 2x the # of MQLs compared to pre-nurture Example:
- 47. Engagement Programs Investor Profile Institutional Investor Equities Fixed Income Commodities Currencies RIA BWM FAs Individual Investor Retirement Growth Income Fund A B C D E Investment Prospect Nurture Example
- 48. Extensible Enterprise Platform 4600+ Customers across 41 Countries Asset Management Track Record & Expertise Top Rated Marketing Automation Marketo for Asset Management
Editor's Notes
- And with that let’s get going!
- At a very high level, What is Marketing Automation? Marketing automation is technology that allows companies to streamline, automate, and measure marketing tasks and workflows to increase operational efficiency and grow revenue faster. Said another way, Marketing automation acts as: A central database for all your marketing data, including detailed prospect and client interactions and behaviors. An engagement marketing engine for the creation, management, and automation of marketing processes and conversations across online and offline channels. And an analytics engine to test, measure, and optimize marketing ROI and impact on revenue. There is a lot that you can do with Marketing Automation to increase marketing’s impact on AUM growth. With marketing automation, you’re able to gather intelligence about potential clients (such as what pages on your website they view, what funds interest them, what their investment objectives are, really any online and offline behavior). You can use that information to more accurately segment your database that will allow you to nurture prospects with the appropriate type of messages in the way they want to receive it. And you can automate all of this so you don’t have to spend as much time and resources building marketing programs.
- As an asset management marketer, your challenges are the following: How do you get prospects to choose you and stay with you? How do you be relevant to each prospect? How do you execute and measure this at scale?
- Marketing automation helps you deliver the right message to the right prospect at the right time. The right message can be broken down into two components. Those components are: Timeliness: Being able to react swiftly to sudden market movements will help give your prospects piece of mind before the financial news can sway their opinion. Think of this as being proactive rather than reactive. You may be reacting to news in the market, but you are communicating proactively with your prospects. It is obviously much better if you can provide a personalized touch at scale rather than having to call each and every prospect or client to update them proactively. And second is Relevance: Knowing each of your prospects and their specific needs is the key to acquiring and retaining them. Each investor is probably with you to accomplish different objectives. Some might be seeking growth with a long time horizon. Others may be seeking income. In either case, sudden changes in the value of their portfolios can and should require different communication in order to be relevant. We will talk about this in more detail shortly. The bottom line is that you can no longer afford to send mass emails to everyone investor in your database.
- Today’s marketers have to be more savvy than simply sending those mass emails or hiring an agency to run a digital ad across the internet. Just think about your experience as a consumer of any other product. Investors expect the same level of personalization they would get from Amazon, YouTube, or other retail companies. In an industry that is traditionally slow to adopt new technology, it’s imperative that marketers push their firms to change. There’s a reason robo-advisors like Wealthfront or Betterment are growing at breakneck speeds (granted, a very small percentage of assets are currently managed by robo-advisors). They are embracing technology like marketing automation to more efficiently and effectively acquire and retain clients through a personalized approach at scale. The key to their success is getting the right message to the right investor at the right time (and also within their preferred method of communication).
- As prospect interactions become deeper, so does your data. It’s critically important to be able to use that data to segment your database, personalize communications for all types of investors, then nurture them along their journey to becoming a happy client. We will dive into these details in a few slides.
- In conclusion, marketing automation can help you in the following ways: You’ll be able to automatically segment your prospects based on demographics and behaviors You can engage your throughout all marketer conditions. You can even react more swiftly to market movements since automation streamlines your marketing programs and increases efficiency. Create a single view of clients and prospects all in one database Prioritize your hottest prospects for sales using intelligent lead scoring Measure and track your marketing campaigns across the prospect lifecycle to prove ROI And make sure that you get the right message to the right investor at the right time
- So why is segmentation so important? Well, without segmentation it’s impossible to move away from mass communications to smaller, more targeted relevant communications that build trust. According to the Direct Marketing Association, 39% of email revenue is generated through very targeted sends to specific segments Segmented emails have also been found to produce 30% higher open rates than broad email messages 77% of email ROI comes from segmented, targeted and triggered campaigns. That also means that you can send fewer emails (but more segmented emails) to grow your client base and AUM. Lastly, 84% of marketers who use segmentations believe their email ROI is good or excellent. So not only is it producing the ROI, but segmentation just makes marketers feel good about their work.
- So how do you segment? Basic segmentation can be separated into two different buckets – behavioral - based on what they have done and demographic – based on who they are.
- Demographic segmentation can be split up into two categories for asset managers (probably more depending on your firm): institutional investors and retail investors. For institutional investors, you likely know your target market. Marketing automation allows you to segment based on industry, company size, location, AUM, investment style and anything else that you deem important. On the other side, you have retail investors, which at a basic level can be segmented by age, net worth or investable assets, location, gender, and investment preferences or goals.
- Behavior segmentation is based on what prospects do. This could be based on where the prospect is in the buying cycle, what their score is, different financial products or strategies they have expressed an interest in, web activity or email engagement, and of course, non-activity. All of these behaviors give you a sort of online body language that can be indicative of future buying intent. With the right segmentation and scoring, you can create timely and hyper-relevant marketing campaigns and also increase sales efficiency, which I will go through in a few slides.
- To stay relevant and tailor your communications to each individual, you can define and build segmentations for your prospects that update in real time. I’ve illustrated a few different possible segmentations that you might explore. Target Accounts, Organizations, Industry, Assets, Investment Strategy, Investment Behavior, Portfolio Size, Investor Persona and Region. These types of segmentations overlaid with behaviors and individual demographics give you a 360 degree view of your prospect database. The more precise your segmentation the more targeted and relevant your campaign messaging and overall prospect communications, which will ultimately drive higher engagement, conversions, and client retention.
- Something that I found useful in my marketing campaigns at previous asset management firms was to segment by investor persona. Every prospect has unique investment objectives and knowing those key objectives will help you tailor your communications to them. For instance, a prospect may be retired and primarily interested in fixed income. If you want send a message that resonates, it definitely doesn’t make sense to send them a message about a long-short strategy or some other tactical play. On the other hand, you may have identified some prospects that are more hands on or sophisticated. Those potential investors may prefer more detailed communications in the form of a white paper. The point here is if you know what your prospects care about, you can tailor your communications to them. You’ll be able to take the personalized touch and feel of a 1-1 phone call and extend it into all of your digital marketing communications. Simply by segmenting your audience, you will be in a much better position to acquire new clients.
- As you solidify your segmentations, be sure that you have the ability to update them in your CRM. For example, let’s say we have ABC Advisors in our database. Over the course of a couple months, we progressively profiled them to know they are interested in the equities asset class. We would build an asset class segmentation, create a segment for equities, and push that data value into the CRM so that sales is better equipped to make a call.
- Marketing automation also allows you to score prospects and how they interact with your digital assets as well as based on who they are. So all of the behaviors and demographics we just talked about can be scored and prioritized for your sales team. The definition of lead scoring is the shared sales and marketing methodology for ranking leads in order to determine sales-readiness. For asset management marketers, this can mean several things, but mainly you would want to consider scoring investors based on fit, interest, behaviors, and timing. For instance, let’s say that you have a minimum investable assets requirement. A prospect who meets that requirement would be scored and prioritized higher than a prospect that doesn’t. OR let’s say that extremely risk averse investors don’t make good clients because your strategy(s) is better suited for investors that are willing to take some risks. You could score for that too.
- After scoring, your prospect audience looks a little different. Let’s say that you have a scoring model that goes from 0-100 in score. The prospects with a score of 100 become your immediate focus. If your scoring model is set up correctly, you’d know that these prospects interacted with emails, the website, possibly downloaded a whitepaper, and meet your key demographics. They deserve a phone call from a sales person. Then there are prospects that sit between 70 and 100. Demographically they are the right fit for your firm, but they haven’t displayed the activity necessary to push them to the score of 100. It would then be your job to create late stage programs like hyper targeted emails or investment webinars to push these prospects to the score threshold that passes them over to sales. At the bottom, you have prospects that are below 70 points. They may or may not be the right demographic (you might not know yet) and certainly haven’t done enough activity to be familiar with your firm, investment style, or products. These are the folks that need to be nurtured over time to build trust.
- With marketing automation, you can set up rules that score prospects based on demographics, behavior, inactivity, asset range, investor persona, and anything else that you have found to be important for your sales team. On the right hand side of this slide, I have two types of scores: latent behaviors (which are really just forms of engagement) and then active behaviors which demonstrate some buying intent. In latent behaviors, a prospect could download an early stage whitepaper and get +3 points. Then another prospect, who you assumed to be a good prospect, began to visit the careers page heavily. This action indicated that maybe this wasn’t a prospect at all but someone interested in a job. So then you decrease the score by -10. In active behaviors, if a prospect visits the fees page, give them +30 points. Or if someone requests to be contacted, give them +50 and send them straight to sales. Using this scoring methodology, you can then set a score threshold that indicates when a prospect is “sales-ready”. For example, if a prospects gets to a score of 100, you know based on sales feedback that prospects at a score of 100 or greater are very warm and ready to a sales conversation.
- All of these lead scoring components would be incomplete without a formula. On the left hand side, we are weighing positive and negative demographic attributes. For instance, let’s say your target market is retired retail investors so anyone above the age of 55 gets a +5 points. But you also have minimum investment requirements. If a prospect has under those requirement, you might subtract 3 points. Positive demo score squared minus negative demo score squared tells you an investor’s demographic fit. If the negative demo score outweighs the positive demo score, that prospect is not a demographic fit. Then we factor in the behavior score which tracks digital behaviors like email clicks, web page visits, and whitepaper downloads. Lastly, we have a decay on behavior score for prospects that stop engaging. This ensures that only engaged prospects will be prioritized for sales. Building out the right scoring formula is tedious and requires strong sales and marketing alignment. In the beginning, you’ll need to tweak the scores/formula to get the right quality prospects to sales.
- Ultimately, you want your sales team to spend more time on hot prospects and less time on prospects that are a poor fit or aren’t ready to speak with sales. Before scoring, you might be sending everyone on the left of this slide over to sales. They’d have to comb through these prospects to find the 5 good ones. But after scoring, we are able to weed out more of the bad prospects, which increases sales efficiency and gives you, the marketer, more time to nurture prospects that weren’t ready to begin with.
- Because you have a very limited space to work with when it comes to email design, it’s incredibly important to make sure your visual message, which consists of image and text, is incredibly clear and concise. To do this make sure that your H1 is bold, legible and decisive. Your H2 is where you can add in pertinent details such as date or location. Balance your text with your image in a way that makes your message pop out more than the image itself. The banner of an email is about attracting a person’s attention to have them want to read the body of the email, but at the end of the day its also about getting them to do the required action you want so including a clear CTA can help that desired behavior.
- Something to take into consideration is that people consume your design on different browsers and now on different screens. Making sure that your email is responsive on a mobile phone and tablet is incredibly important in making sure your emails are well-designed. In this case you have even less space to work with so get straight to the point by keeping images to a minimum and make the CTA even more clear. One additional point that I’d like to call out is that the font size is 2pts larger on mobile phone for increased readability. This is a great design element to incorporate!
- A commonly accepted best practice for email marketing is to use “alt” text, which stands for alternative text, on email images. Here’s why you should use “alt” tags: Most email clients block images by default. When images are blocked, your alt tags will display the text over the blocked images. This is a handy way to communicate messages even when images cannot. If you’re in a situation where images can’t load due to a bad or broken connection, alt tags will save the day! You’ll see in the screen shot on the left that our alt tags are displaying text that’s telling the recipient what the images are. And in the example code on the right, I’ve made the alt text bold and red. If you aren’t already using alt text in your emails, please start using it. It will help your deliverability rates and potentially even your open rates too!
- Lastly, I want to cover the topic of CTA buttons and which is better: image CTA or HTML CTAs, which are buttons made out of code. A while back, I ran a test to determine which is better. Here, we see two emails: the control, which is using a jpeg CTA Button that reads “RSVP NOW” and a Test, which uses an HTML button with the exact same “RSVP NOW” language. It’s tough to tell which button is which, right? Well that’s because the coded HTML button is made to be the same size, color, look and feel as it’s jpeg counterpart. Where this button really shines is when the email hits the inbox.
- When any email gets to your inbox, you (or your email client) will choose to download images, which counts as an opened email. On the left, you can see that all of the images need to be downloaded and that the “RSVP NOW” CTA Button, the main attraction in your email, is hidden. Only when images are downloaded does your image-based CTA render in all it’s glory. But on the right, the HTML button renders before the email is opened!!! Why? Because this is code, not an image. Nothing needs to be downloaded at all and your main call-to-action is made clear and apparent before the recipient opens the email. What’s most interesting about this test is the numbers. Let’s take a peek!
- Our little HTML button pulled in some impressive results! Now right off the bat, you might be thinking “how is it that the HTML button had a higher open rate?” Well, because the coded button rendered before the email was ever opened and it completely changed the user experience. As a result, we saw 5% higher opens! Additionally, we saw a 15% higher click to open rate and a 20% higher click through rate! These numbers were HUGE and impressed us big time. What’s even cooler is that these numbers are statistically significant, ensuring that we have full confidence that rolling out HTML buttons to all of our emails will produce a positive impact.
- How great would it be if you could produce 20% higher click through rates on all of your emails?? Well now you can!! Here’s a few simple, free websites for generating HTML buttons. They use very easy editors to build the button just how you like it and when you are finished, you just pop the HTML into your email. It’s as easy as that. And don’t worry about writing down these websites right now. I’ll be sending out this presentation later.
- The first part of great content is making it personal. I always think LinkedIn and Amazon do a really great job of this. They personalize the subject lines by using your name, but they also personalize the email. Using personalization of name or company tokens can help you increase your open rates. The power of personalization comes from the accuracy of your data, so if you have the data make sure you are leveraging it to help capture people’s attention.
- A great example of a company leveraging data is Lyft. Every month I receive an email from Lyft that lets me know how many rides I’ve taken in a month and how I’ve rated them. They are doing a good job of storing my ridership data and feeding it back to me in my emails. Add in firmagraphic and demographic data to make your messages even more powerful. By segmenting effectively, you can create targeted emails that result in higher engagement. In this case because Lyft knows I am in San Francisco it is showing me events I can attend in my region. Someone from Portland using Lyft will obviously get a different event calendar.
- This idea of effective segmentation as a way to improve your content is further bolstered by this graph. What you see here is that there is a direct correlation between the size of the send and engagement. The engagement score here is the combination of open rates, click through rates, and click to opens. More to the point, smaller sends are typically more engaging than large ones.
- Aside from Personalization - Behavior is an important element to designing successful email campaigns that attract attention. Companies are getting very sophisticated in how they listen for action on a website and then follow up with a relevant email later. This study from MarketingSherpa shows that being relevant and engaging with your audience requires sophisticated targeting that combines online body language (like website traffic and browsing behavior) with lifestyle and demographic data (personas) When behavioral cues are not used, email can be experienced as an interruption.
- This email from west elm is a perfect example of listening for action on a website and responding with a relevant and timely offer. In this case, I had been browsing around on their site but hadn’t put anything in my cart. Clearly West Elm is using an active trigger campaign that probably looks at the length of time someone spends looking at an item, and then sends an email to remind them of it the next day. It’s important for companies to keep their audience engaged even after they display just slight interest.
- In regards to how you can apply this to your own firm, when someone downloads one of your whitepapers you can set up a trigger campaign that identifies that behavior and maybe recommends a similar piece of content they may be interested in . In this example, when someone downloads out Power of A/B testing ebook, we send out a triggered email pointing them to our worksheet, What to Test with Your Digital Ads. It ‘s friendly, thoughtful, and shows that we are listening to behaviors to make their experience more relevant.
- So how you do think about building your own nurture or improving the nurtures you have? Here are the ABCDE’s to help you think through your nurturing campaigns. Everything begins with the audience you want to communicate with. Then you need to make sure you have the resources to build the nurtures that you want. Nurture is not just email, but it’s the integration of all your channels. Once you have all these things it’s time to define what experience you want your target market to have and then evaluate what are your success criteria.
- The first question you should always ask yourself is WHO you should nurture. It is important to get buy-in from stakeholders and understand where there are opportunities. Bring together your key stakeholders and define exactly who it is you should be marketing to. What data fields do you need, what minimum requirements do they need to meet in order to be a part of the target market. An email best practice tip is to have your marketing operations team build an approved set of mutually and non mutually exclusive segmentations that are easily referenceable. This will greatly help in minimizing issues you have when sending emails.
- On some marketing teams, all lead nurturing is managed by one person. In other organizations, it is divided amongst several people. The key thing to remember is lead nurturing is really a co-existence of two opposing variables: creativity and logic. It’s both an art and a science. Your nurture team needs to produce compelling content, but it also needs to perform complex marketing operations. So consider hiring for the following roles Nurture content manager Nurture operations manager
- C is for Channels and in particular the multi-channel experience For nurture to be effective, you have to think outside of just email. It is most effective when it is aligned to buyer behavior and their communication preferences.
- Alright now you’ve got your team together, you’ve defined your target market, you’re able to properly identify and qualify them, its time to think of the story you want to tell them. The best way to do this is to determine how many emails you want to nurture a particular audience with. Let’s go with 10. The first 2-4 emails tend to be the most important because they either capture the attention of your audience, or they are the ones that people unsubscribe from. This is where you should place your best performing emails. Once a person has unsubscribed from your emails, there goes your ability to tell someone a holistic story about your company. At Marketo our philosophy is to always start with light and engaging content like infographics or videos, and then move on to meatier pieces of content like eBooks or definitive guides. Finally you can include some product promotions, but do them carefully, sparsely and intermittently. You don’t want people to feel sold to and unsubscribe from your content. Nurture is all about engaging with people over a long period of time. At Marketo we have a rule of thumb called the 4-11 rule. For every four entertainment pieces, we send 1 soft promotion like a research report and 1 hard promotion like attend a demo or visit a pricing page Also be conscious that even though you create a story arc of emails 1 through 10, doesn’t mean that a person will read and receive all of them
- It is very important before you even start on any nurturing project to make sure that the team is aligned on objectives and outcomes. Evaluate what does success actually look like.
- With everything we have covered: segmentation, scoring, email tips, and nurture, here’s an example of what a prospect nurture program might look like. Break down the investor profile, meaning is it an institutional investor, a financial advisor, a retail investor, etc. Then have more granular nurture streams to address those individual segments. So for instance, you’ll have a nurture program set up specifically for individual investors. Within that program, there are nurture streams set up retirement, growth and income. All of your nurture communications can be automated, so once a week or once every two weeks, prospects receive automated, personalized communications tailored to their specific needs.
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